Fortive (NYSE:FTV) Stock Rating Lowered by Mizuho

Fortive (NYSE:FTV) was downgraded by analysts at Mizuho from a “strong-buy” rating to a “strong sell” rating in a research note issued to investors on Monday,Zacks.com reports.

A number of other brokerages have also weighed in on FTV. Zacks Research upgraded shares of Fortive from a “strong sell” rating to a “hold” rating in a report on Monday, September 15th. Truist Financial reiterated a “hold” rating and issued a $58.00 price objective (up previously from $55.00) on shares of Fortive in a report on Thursday, October 30th. JPMorgan Chase & Co. boosted their target price on Fortive from $53.00 to $55.00 and gave the stock a “neutral” rating in a research note on Thursday, October 30th. Barclays lifted their target price on Fortive from $54.00 to $56.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 30th. Finally, Wells Fargo & Company raised their price objective on Fortive from $55.00 to $59.00 and gave the company an “equal weight” rating in a research note on Monday, December 22nd. Two equities research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Fortive currently has a consensus rating of “Hold” and an average price target of $57.62.

Fortive Price Performance

Shares of NYSE:FTV opened at $53.82 on Monday. The company has a current ratio of 0.70, a quick ratio of 0.58 and a debt-to-equity ratio of 0.33. Fortive has a twelve month low of $46.34 and a twelve month high of $83.32. The company has a market cap of $17.09 billion, a PE ratio of 30.75, a price-to-earnings-growth ratio of 3.11 and a beta of 1.13. The company’s 50 day moving average is $53.13 and its 200 day moving average is $51.58.

Fortive (NYSE:FTV) last announced its earnings results on Monday, June 9th. The technology company reported $0.80 earnings per share (EPS) for the quarter. The company had revenue of $1.07 billion for the quarter. Fortive had a net margin of 11.72% and a return on equity of 12.04%. On average, sell-side analysts forecast that Fortive will post 4.05 EPS for the current year.

Insiders Place Their Bets

In related news, SVP Stacey A. Walker sold 2,192 shares of the stock in a transaction dated Friday, October 31st. The stock was sold at an average price of $50.35, for a total value of $110,367.20. Following the completion of the sale, the senior vice president directly owned 59,488 shares of the company’s stock, valued at approximately $2,995,220.80. This represents a 3.55% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.92% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in FTV. True Wealth Design LLC raised its stake in shares of Fortive by 815.4% during the second quarter. True Wealth Design LLC now owns 476 shares of the technology company’s stock worth $25,000 after buying an additional 424 shares during the last quarter. Quent Capital LLC bought a new position in shares of Fortive during the 3rd quarter worth approximately $28,000. Exchange Traded Concepts LLC lifted its position in shares of Fortive by 46.7% during the 3rd quarter. Exchange Traded Concepts LLC now owns 741 shares of the technology company’s stock valued at $36,000 after acquiring an additional 236 shares during the period. Geneos Wealth Management Inc. boosted its position in shares of Fortive by 246.2% during the 1st quarter. Geneos Wealth Management Inc. now owns 502 shares of the technology company’s stock worth $37,000 after acquiring an additional 357 shares in the last quarter. Finally, J.Safra Asset Management Corp increased its position in Fortive by 71.1% during the 3rd quarter. J.Safra Asset Management Corp now owns 782 shares of the technology company’s stock valued at $38,000 after purchasing an additional 325 shares during the period. 94.94% of the stock is currently owned by institutional investors and hedge funds.

About Fortive

Fortive Corporation (NYSE: FTV) is a diversified industrial technology company headquartered in Everett, Washington. The company was created through a spin‑off from Danaher Corporation in 2016 and has since focused on building a portfolio of professional instrumentation and industrial technology businesses. In 2020 Fortive completed a further portfolio separation with the spin‑off of Vontier, concentrating Fortive’s activities on higher‑margin instrumentation, software and services.

Fortive’s operations center on professional test and measurement, sensing and monitoring, software‑enabled solutions, and lifecycle services that support industrial and commercial customers.